How do I open a local payment account in Thailand? Complete Guide

Opening a local payment account in Thailand requires choosing the right bank or payment platform for your personal or business needs and meeting the relevant conditions. Below is a detailed guide:

I. Individual users to open a Thai payment account

1. Selection of banks/payment institutions

Mainstream Banking in Thailand:

• Bangkok Bank (Bangkok Bank)
• Kasikorn Bank
• Sinkiang Bank (SCB)
• Krungsri (Ayudhya Bank)

Digital wallets/payment platforms:

• TrueMoney Wallet(High penetration rate and support for offline top-ups)
• PromptPay(Thailand's national real-time payment system, card binding required)
• GrabPay / Line Pay, etc.

2. Material requirements

Required for foreigners:

II. Opening of Thai payment accounts by individual users (continued)

2. Required materials (foreigners)

• original passport(valid for more than 6 months)
• Long-term visa(e.g. work visa, student visa, retirement visa, etc. Tourist visa is usually unable to open an account)
• Proof of address in Thailand(choose one of the following):
  • Rental contract + copy of landlord's ID card
  • Utility bills (need to show name and address)
  • TM30 Immigration check-in slip

Note: Some banks may require additional documentation such as proof of income or deposit minimums.

3. Account opening process

1. Book a bank branch: Preference is given to branches in major cities such as Bangkok and Chiang Mai, some of which have better English language support.
2. Submission Review: The staff will check the type of visa and the authenticity of the address.
3. Initial amount deposited: Usually a deposit of 500 to 1,000 Baht is required to activate the account.

draw attention to sth.::
✅ SCB and Kasikorn Bank are friendlier to English-speaking users; Panjim Bank is suitable for users with cross-border needs.
❌ Tourist visas for short stays can be replaced by digital wallets.

III. Opening of Thai payment accounts by enterprises

(for e-commerce/companies)

1. PromptPay Business Registration::

   • Company registration documents, corporate documents and commercial licences are required.
   • cutting edge: Supports large transfers with low fees.

2. TrueMoney Merchant Account::

   • Applicable Scenarios: Offline collections or small online transactions.
   • tariff: About 1%~3% transaction fee.